After The Close, 06 Apr 2009
Merv’s Daily Uranium Index
Market Data
Open: 142.98
High: 146.12
Low: 138.95
Close: 143.05
Volume: 3931
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
The Index continues to move in a sideways direction with no idea as to which way it wants to go next. It’s a waiting game until something more definitive happens. The only real indicator that is giving a solid story is that volume indicator, and it is giving us a positive story, at least at this time.
The Merv’s Daily Uranium Index closed today on the down side by 1.14 points 0or 0.79%. There were 19 winners, 24 losers and 7 going nowhere. The five largest stocks were mixed with Cameco losing 1.8%, First Uranium losing 1.7%, Paladin losing 0.9%, Uranium One gaining 1.1% and USEC gaining 0.7%. The best winner on the day was Denison Mines with a gain of 26.3% while the loser of the day was Uranium Energy with a loss of 15.0%.
The Index remains above its intermediate term positive moving average line. The intermediate term momentum indicator remains in its positive zone but below its negative trigger line. The volume indicator is still way up there well above its positive trigger line. All in all, the intermediate term rating remains BULLISH.
As for the short term we’ve had a down grade in the rating. The Index has now dropped below its moving average line, however the line is still very slightly sloping in an upward direction. The momentum indicator remains in its positive zone although it is moving lower and is below its negative trigger line. As for the daily volume action, that remains low and to be expected with the Index activity. The short term rating has now dropped to a – NEUTRAL rating, just a level shy of a full bear.
As for the direction of least resistance, what can I say? That remains in the lateral direction until we get some more concrete activity from the Index.
Merv’s Daily Uranium Index
Market Data
Open: 142.98
High: 146.12
Low: 138.95
Close: 143.05
Volume: 3931
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
The Index continues to move in a sideways direction with no idea as to which way it wants to go next. It’s a waiting game until something more definitive happens. The only real indicator that is giving a solid story is that volume indicator, and it is giving us a positive story, at least at this time.
The Merv’s Daily Uranium Index closed today on the down side by 1.14 points 0or 0.79%. There were 19 winners, 24 losers and 7 going nowhere. The five largest stocks were mixed with Cameco losing 1.8%, First Uranium losing 1.7%, Paladin losing 0.9%, Uranium One gaining 1.1% and USEC gaining 0.7%. The best winner on the day was Denison Mines with a gain of 26.3% while the loser of the day was Uranium Energy with a loss of 15.0%.
The Index remains above its intermediate term positive moving average line. The intermediate term momentum indicator remains in its positive zone but below its negative trigger line. The volume indicator is still way up there well above its positive trigger line. All in all, the intermediate term rating remains BULLISH.
As for the short term we’ve had a down grade in the rating. The Index has now dropped below its moving average line, however the line is still very slightly sloping in an upward direction. The momentum indicator remains in its positive zone although it is moving lower and is below its negative trigger line. As for the daily volume action, that remains low and to be expected with the Index activity. The short term rating has now dropped to a – NEUTRAL rating, just a level shy of a full bear.
As for the direction of least resistance, what can I say? That remains in the lateral direction until we get some more concrete activity from the Index.
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